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North Carolina State secures financial upgrade with Adidas extension

German sportswear giant Adidas has agreed a six-year extension to its partnership with the N.C. State Athletics department of North Carolina State University.

The new contract becomes effective next July and will run until the end of the 2021-22 college sports season.

The News & Observer website said the deal is worth $38.7m (€36.1m) in uniforms, footwear, apparel and financial considerations. This is a significant uplift from the three-year contract N.C. State and Adidas reached in 2012. That deal was worth about $8m to the school, which put it among the lower rankings of ‘Power 5’ conference teams.

As part of the agreement, Adidas will continue to provide North Carolina State’s Wolfpack athletics teams with uniforms, footwear, apparel and equipment.

The sale of official university merchandise will also result in an annual royalty payment for North Carolina State. The payment will in turn be used to back scholarships and other student-based initiatives.

The university’s director of athletics, Debbie Yow, said: “We are pleased and appreciative that our enhanced partnership with Adidas will allow us to better provide for our 550 student-athletes participating in 23 varsity sports.

“That is our most important goal, and we will now have additional resources to meet those needs, as well as provide additional value to campus for support of student activities and scholarships.”

The university's existing deal with Adidas was due to expire next summer.